FTX Claims Holder Attestor Takes Creditor to Court Over Alleged ‘Seller’s Remorse’
The London-based firm says the creditor promised to fork over two FTX accounts, only to back out of the deal after the value of its claims skyrocketed.
The London-based firm says the creditor promised to fork over two FTX accounts, only to back out of the deal after the value of its claims skyrocketed.
The latest price moves in crypto markets in context for March 7, 2024.
The settlement with FTX and Alameda Research is a key part of BlockFi’s bankruptcy and reorganization plan.
Tyr investor TGT has brought claims against the hedge fund that it ignored several warnings over its ties with the now-bankrupt crypto exchange FTX.
The bankrupt exchange’s unit, Digital Custody Inc., which FTX bought for $10 million, sold for just $500k to CoinList.
Sam Bankman-Fried’s cryptocurrency exchange infamously collapsed months after the commercial.
FTT was up 11% in the past 24 hours as the broader market tracked by CoinDesk 20 slumped 4%.
BTC’s price has fallen since bitcoin ETFs were approved. In theory, now that FTX is done selling its substantial holdings, the selling pressure could ease since a bankruptcy estate liquidating holdings is a relatively unique event.
Bankman and Fried, both professors at Stanford Law School, argued that Bankman did not have a fiduciary relationship with FTX .
This deal will pave the way for assets to be pooled and distributed to FTX.com customers.